GN Bank was a good bank; cabinet rejected Ofori-Atta’s recommendations to revoke licence-Nduom  

Story: Atta Kwaku Boadi

Chairman of Groupe Nduom, a multinational conglomerate, Dr Papa Kwesi Nduom has defended GN Bank,  saying the bank was good, and does not understand why the  Central Bank  revoked its licence.

This, he  said, was the reason cabinet rejected to revoke the bank’s licence when the former Minister of Finance, Ken Ofori-Atta  allegedly recommended to cabinet  to withdraw  the licence of GN Bank.

Dr Nduom made these observations during his engagement with Ghanaians on Facebook yesterday to set the records straight as far as GN Bank issues are concerned. The interaction, Today understands, was part of the ongoing #BringBackGNBank national tour of all the 300 branches of the bank.

The Groupe Nduom chairman indicated that,  the primary goal of GN Bank which started as a savings and loans company was financial inclusion which he said,  the bank achieved that target before its licence was revoked. 

Showing documents to back his claims, the renowned entrepreneur stated that,  he never misapplied any depositor’s money. He said, every project the bank executed through Ghanaian contractors was to support government’s infrastructure deficit.

“ People sometimes ask me why we gave money to contractors to do government projects, and  I  tell them it’s always safer to give loans for government projects than to give to  individuals or private companies”, he said. 

To this end, he underscored the need for the government to pay the contractors who took money from GN Bank to do government projects. 

Dr Nduom who is the leader of #BringBackGNBank national tour registered his resentment over the deteriorating state of GN Bank properties across the country. 

“I was disappointed what I saw with my team  when we  went to New Ningo, Pramparm, Sege, Miostso among others in the Greater Accra region. The properties of the bank have been left to rot as they are not properly managed well”, he intimated. 

“What the government doesn’t know is that,  some of the buildings don’t belong to GN Bank but they refused to sit down with us”, he added.

He was confident that if this current administration does not  restore GN Bank’s licence “the next administration will restore  the bank’s licence”.

Dr Nduom promised to engage Ghanaians again and talk about Groupe  Nduom.  

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